TruAmerica Multifamily And Intercontinental Real Estate Acquire Multifamily Asset In La Mesa For $149.5M
SOLD
$149,500,000
California
See Similar DealsMultiFamily
Sold 08/01/2018
SOLD
TruAmerica Multifamily And Intercontinental Real Estate Acquire Multifamily Asset In La Mesa For $149.5M
8727 Fletcher Pky
See Similar DealsMultiFamily
Sold 08/01/2018
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved a multifamily asset located at 8727 Fletcher Parkway in La Mesa. The property was sold for $149,500,000.00. This closed transaction reflects active participation in the multi-family market within the specified region.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $149,500,000.00
- Address: 8727 Fletcher Pky
- Market: La Mesa
- Buyer: TruAmerica Multifamily, Inc. and Intercontinental Real Estate Corporation
- Broker: Derrek Ostrzyzek (CBRE)
The deal involved the significant collaboration between the buyers, TruAmerica Multifamily, Inc. and Intercontinental Real Estate Corporation. They were represented in the transaction by Derrek Ostrzyzek from CBRE, underscoring his role in facilitating this closed property deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$531,141.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$708,706.27
Annual Debt Service$8,504,475.26
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